Functional Dairy Market Outlook
Functional dairy products are products recognized as having additional nutrition beyond the basic nutrition available in dairy products. It contains most crucial elements of balanced diet and works as energy-booster for consumers. Also, consumers are becoming more aware of how a healthy diet influences short-term and long-term health and wellness. In response to this, consumers are shifting towards nutrient-dense food to attain high nutrition beyond basic nutrition. Therefore, the functional dairy food products market undoubtedly shows the lucrative growth in the forecasted period. Functional dairy food products include milk, yogurt, cheese, butter and many more. Among these, milk and cheese are expected to hold major shares, owing to the high consumption level worldwide. Functional dairy products have been associated with bioactive peptides, oligosaccharides, probiotic bacteria, antioxidants, vitamins, conjugated linoleic acid, specific proteins, highly absorbable calcium, organic acids, and other biologically active components with an array of bioactivities, which make it different from normal dairy products.
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Nutritional Benefits of Functional Dairy Products to Increase Consumption Worldwide
Functional dairy food products provide consumers with an identified health benefit over and above basic nutritional value, which is diverting consumers’ daily diet towards functional dairy food products. Therefore, this factor is subjected to fuel the growth of the functional dairy market in the forecasted period. Also, increasing lifestyle and chronic diseases such as high blood pressure and obesity among population also lead to generate high demand for functional dairy products, owing to the additional health benefits of functional dairy products i.e. high nutrition value in milk, cheese, yogurt, and other products. The global functional dairy products industry is becoming stronger in current scenario due to more innovations by manufacturers in technology for providing better quality products and services, and also the reach of functional dairy products is getting statistically improvised. Therefore, this made the functional dairy products industry as one of the biggest contributors to the global economy and help to drive its market growth in the coming years. Functional dairy products are also getting more trending and demanding due to high social media and marketing campaigns by key players, which is directly impacting youth and health-conscious people and helps to improve the sales of products.
Global Functional Dairy Market Segmentation
The global functional dairy market is segmented on the basis of product type, end-use application, and distribution channel.
On the basis of product type, the global functional dairy market has been segmented as-
On the basis of end-use application, the global functional dairy market has been segmented as-
- Frozen food
- Clinical nutrition
On the basis of distribution channel, the global functional dairy market has been segmented as –
- Online Store-based Retailing
- Store-based Retailing
- Convenience Stores
- Grocery Stores
- Specialty Stores
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Functional Dairy Market: Regional Analysis
The global functional dairy market is majorly divided into seven regions, such as North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa, and Oceania. Among all these regions North America is estimated to dominate the functional dairy market, due to the increasing awareness levels among people for a healthy diet and its benefits, also the introduction of advanced equipment for milk processing in North America. Other than that, Asian countries are expected to show significant growth in the forecasted period due to the high consumption of functional dairy products, and increasing economic growth in Asian countries. Developing regions hold significant shares in the functional dairy market in the coming years.
Functional Dairy Market: Key Participants
- Archway Food Group
- General Mills Inc.
- Anand Milk Union Limited
- Dairy Farmers of America Inc.
- Kraft Foods Inc.
- Arla Foods UK Plc.
- Nestle SA
- Parmalat S.P.A
- Megmilk Snow Brand Co. Ltd
- Dean Foods Company
- Fonterra Co-operative Group
- Lactalis International
- Danone SA
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.